Rexam offloads health to concentrate on cans

Putting the unit up for sale follows a decision by Rexam to focus on its core beverage can business

Rexam said today it will sell its healthcare business after warning that full-year profits could fall.

The world’s biggest maker of cans for companies including Coca-Cola, Red Bull and Carlsberg said global can volumes for the five months to May 31 rose by 1 per cent compared with the same period last year.

That suggests a worsening slowdown for the company in the second quarter, after it reported sluggish 3 per cent growth in can volumes for the first quarter.

Rexam said it was looking for a buyer for its healthcare business, which makes medical devices such as bronchial inhalers and injection syringes and accounts for about 10 per cent of sales.